Trexquant Investment LP boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,917 shares of the company's stock after purchasing an additional 19,847 shares during the quarter. Trexquant Investment LP owned approximately 0.30% of Turning Point Brands worth $3,180,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Sei Investments Co. lifted its holdings in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock worth $4,693,000 after buying an additional 283 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after acquiring an additional 482 shares during the period. Access Investment Management LLC lifted its stake in Turning Point Brands by 0.4% in the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock worth $7,340,000 after purchasing an additional 540 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in Turning Point Brands by 13.4% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 7,089 shares of the company's stock valued at $426,000 after purchasing an additional 840 shares during the period. Finally, Moran Wealth Management LLC grew its position in shares of Turning Point Brands by 16.4% during the 4th quarter. Moran Wealth Management LLC now owns 6,368 shares of the company's stock valued at $383,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.
Turning Point Brands Price Performance
TPB stock traded down $0.72 during mid-day trading on Friday, hitting $55.78. 93,340 shares of the stock were exchanged, compared to its average volume of 158,128. The business has a fifty day moving average price of $62.47 and a 200 day moving average price of $57.30. The stock has a market capitalization of $990.69 million, a price-to-earnings ratio of 22.13 and a beta of 0.70. Turning Point Brands, Inc. has a 12 month low of $26.45 and a 12 month high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.
Turning Point Brands Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands's payout ratio is presently 14.15%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on TPB shares. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target on the stock. Roth Mkm reiterated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $73.33.
View Our Latest Stock Analysis on Turning Point Brands
Turning Point Brands Company Profile
(
Free Report)
Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.
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